Market Commentary
Global markets – US indices closed mixed on Wednesday amid rate cut hopes. Dow Jones closed down by 0.1 pct. While Nasdaq closed green by 1 pct.
| Global Indices | % Change | ||
| Last Close | 1 day | YTD | |
| Dow Jones | 45,271 | -0.1 | 6.4 |
| Nasdaq | 21,497 | 1.0 | 11.3 |
| Hang Seng | 25,095 | -1.0 | 25.1 |
| Nikkei | 42,456 | 1.2 | 6.4 |
Commodities – Gold prices fell and currently stood at USD 3,528 on profit booking. On the other hand, oil prices stood at USD 68.69/bbl.
| Commodities % Change | ||
| Last Close | 1 day | |
| Gold ($) | 3,530 | -0.8 |
| Silver ($) | 40.63 | -1.2 |
| Brent Crude ($) | 67.29 | -0.2 |
| Moving Averages | ||
| Nifty 50 | Nifty Bank | |
| 50 DMA | 24,979 | 56,041 |
| 100 DMA | 24,750 | 55,576 |
| 200 DMA | 24,080 | 52,940 |
Asian markets – Asian markets trading mixed in the early morning trade, Hang Seng trading down by 1 pct. While Nikkei trading positive by 1.2 pct.
Indian Indices – India’s equity benchmarks are likely to open gap up as GIFT Nifty indicates. Benchmark Indices closed higher on Wednesday led by rally in metal stocks on hopes of improved profitability on China’s plan to reduce its steel output.
| Indian Market | % Change | ||
| Last Close | 1 day | YTD | |
| Sensex | 80,567 | 0.5 | 3.1 |
| Nifty | 24,715 | 0.6 | 4.5 |
| Nifty Bank | 54,067 | 0.8 | 6.3 |
| Nifty Midcap 100 | 57,345 | 0.6 | 0.3 |
| Nifty Smallcap 100 | 17,748 | 0.9 | -5.4 |
| Institutional Activity | Rs crore | |
| Cash | YTD | |
| FII | -1666 | -223,789 |
| DII | 2495 | 521,960 |
Stocks to watch
Positive Read through
- Polymed – Acquires Netherlands-based PendraCare Group.
- Steel Exchange India – Expanding its business to include integrated logistics.
- Maruti Suzuki – Sees Huge Growth In SUV Segment, Targets Exports To 100+ Countries.
- Sharika Ent – Repeat order from JSW Steel Limited for a 220kV cable installation at its Dolvi Plant.
- LTTS – In Collaboration with SIMA. AI e For Product Innovation in Mobility, Healthcare, Industrial Automation & Robotics.
- Railtel Corp – Received Work Order worth Rs 149.5 mn.
- BHEL – Bags order worth Rs. 26 bn from MB Power for Anuppur Thermal Project.
- FMCG/ Consumer Durables/ Dairy products/Insurance/ Agri/ Automobiles/ Cement/ Healthcare/ Insurance stocks – GST gets a big reset: 90 pct of items move into 5 pct & 18 pct slabs.
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